Industrial Services Market

Industrial Services Market Market Value $ 44.1 Billion (2025) CAGR 5.6 % (2020-25)

Published On Dec, 2020

Industrial Services Market worth $44.1 Billion USD by 2025 According to the new market research report "Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025" The industrial services market size is estimated to be USD 33.6 billion in 2020 and is projected to reach USD 44.1 billion by 2025, at a CAGR of 5.6% between 2020 and 2025. The rising necessity for operational excellence, growing demand for predictive maintenance services, and increasing demand for maintenance-as-a-service are major factors driving the growth of the industrial services market. Additionally, increasing equipment complexity leading to a growing need for calibration and repair services is another key driver for the market.

Get Best Informational PDF Brochure Browse 217 market data Tables and 42 Figures spread through 223 Pages and in-depth TOC on "Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025" View detailed Table of Content here - https://www.marketsandmarkets.com/MarketReports/industrial-services-market-209335409.html Operational improvement & maintenance services to grow at the highest growth rate during the forecast period The operational improvement and maintenance services help the end users improve the assets lifecycle and reduce downtime. The complete suite of operational improvement and maintenance services segment can be further divided into a broad spectrum of services, including scheduled maintenance, ad-hoc and emergency maintenance, and predictive maintenance services. Ad-hoc and emergency maintenance services help end users reduce unplanned downtime by providing a control system expert for fast and efficient onsite support. Scheduled maintenance services assist the process & discrete industries in monitoring the operational equipment—the services provide up-todate maintenance of filed devices, software, and plant. Predictive maintenance services help end users decrease unplanned downtime by monitoring installed devices and systems continuously.

Industrial 3D printing to grow at the highest growth rate during the forecast period Industrial 3D printing is used in major industries such as automotive, aerospace, food & beverages, electrical/electronics, and foundry and forging industries. Manufacturing tools is an expensive and time-consuming process, but it can be simplified using industrial 3D printing tools. The highly complex designs can be easily manufactured using 3D printing, thereby eliminating the requirement of an assembly line. It also reduces the labor cost. As the potential applications for 3D printing increase, companies are beginning to create new business models and opportunities with the technology.

Food & beverages industry is expected to register the highest CAGR during forecast period

Besides rising costs, the food & beverages industry faces other challenges such as regulatory compliance, management of the global supply chain, product quality, and continuous process improvement. There is a strong demand for processed food from the emerging markets owing to the burgeoning population and increasing food consumption worldwide. These challenges are overcome using SCADA, PLC, DCS, and MES systems to enhance productivity, save resources, minimize downtime, and maintain adherence to regulatory compliances.

The industrial services market in Asia Pacific is expected to grow significantly from 2020 to 2025 The growth in Asia Pacific is mainly attributed to the increasing adoption of industrial automation and related services in China, Japan, and India. With the growing trend of cloud connectivity in Asia, industries would adopt Industrial Internet of Things (IIoT)-based remote monitoring and predictive maintenance services. The downstream sector of Chinas oil & gas industry is undergoing remarkable developments and reformation to modernize refineries, fuelling the demand for machine safety systems. The adoption of automation solutions in the manufacturing industries in India is increasing significantly. In addition, the growing number of power projects to meet the rising demand for electricity in India has provided momentum to implement machine safety systems such as burner management and fire and gas systems at plant locations. The need for quality control, worker safety, and improved productivity is also boosting the market for automation services in countries such as South Korea, Malaysia, Taiwan, Australia, and Singapore.

Major players in the industrial services market are ABB (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International (US), Schneider Electric (France), Rockwell Automation, Inc. (US), Siemens (Germany), Yokogawa Electric Corp. (Japan), Mitsubishi Electric Corporation (Japan), Metso Corporation (Finland), and Samson AG (Germany).

Don’t miss out on business opportunities in Industrial Services Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-toMarket (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 sales@marketsandmarkets.com